We’ve covered Sprint (S) for the past week or two. Is it time to sell now? Yep.
Discussed in this article: Sprint Nextel ( $S )
In this Free Chart I want to look at Sprint ( $S Sprint Nextel Corporation ); first I’m not even really honestly sure what to say about the Boston thing. I know there are a lot of members in the area, that was a big event, the Boston Marathon, and so my thoughts and prayers go out to anybody who is in need of those thoughts and prayers. Like I said, I just really don’t know what else to say, let me get into Sprint ( $S Sprint Nextel Corporation ).
This is one that I’ve been featuring here in the Free Chart videos for the last couple weeks, and it’s been in this volatility squeeze. There’s always been this consensus, and you could look at it in the news, or on the chat boards, or whatever, not consensus but there’s always been a conjecture that Sprint ( $S Sprint Nextel Corporation ) would be acquired. That was one of the reasons why the stock had just been kind of drifting upward, low volatility, bottom line is nobody really wanted to sell it. There wasn’t any real compelling reason to sell, you could say, “Oh well they’re not making money.” Well, duh, dude, that’s been the case forever; seems like.
Anyway, if you were long this stock, and I know a lot of people in the Stock Market Mentor and Option Market Mentor forums were, from what I can see; I think you’ve got to sell this stock. One of the guys actually, this morning, said that he sold it at $7.24, and that’s a pretty good sell, I mean that’s almost top tick in the market. To you who did that, this is the one opportunity you got to do that. Anybody, at one time in your life, can top tick the market with a sell, or you can bottom tick the market with a buy. You can do that once, but you can do the opposite as many times as you want, you can top tick the market with a buy as much as you want. So think about that.
The bottom line is, I think this is a stock that should be sold. I’m not saying that it’s going to fall down here to $6.50, I don’t know. But I will say this; the stock was selling off before the Boston Marathon event came. So this was one of these, buy the rumor, which everybody had been doing, sell the news events. Bottom line is, there’s just not a lot of upside in here right now. It’s $7.06, if you’re buying this stock now don’t do that, there’s really not that much upside in it. If you’re holding this, wanting the stock to get up to the high here so you can sell it where it was at one point, I don’t think you want to do that either.
The market’s pretty bloody right now, there’s going to be a lot of good buying opportunities in the next couple days, I promise you that; so you don’t want to have your money tied up in Sprint ( $S Sprint Nextel Corporation ) when the money has already been made. Go ahead and book those profits, take your money and put it into other stuff that has been, quote, unjustly punished.